Healthcare Realty Trust (NYSE:HR) Issues Q2 Earnings Guidance

Healthcare Realty Trust (NYSE:HR) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.38 to $0.39 for the period, compared to the consensus estimate of $0.39. Healthcare Realty Trust also updated its FY24 guidance to $1.52 to $1.58 EPS.

Healthcare Realty Trust Price Performance

Shares of HR stock traded down $0.10 during mid-day trading on Wednesday, hitting $15.31. The company had a trading volume of 5,814,388 shares, compared to its average volume of 3,455,851. The company has a market capitalization of $5.84 billion, a P/E ratio of -20.63 and a beta of 0.78. The stock’s 50 day moving average price is $13.91 and its 200-day moving average price is $15.06. Healthcare Realty Trust has a 52-week low of $12.77 and a 52-week high of $20.30.

Healthcare Realty Trust (NYSE:HR) last posted its quarterly earnings results on Friday, February 16th. The real estate investment trust reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.51). Healthcare Realty Trust had a negative return on equity of 3.87% and a negative net margin of 20.71%. The company had revenue of $330.40 million during the quarter, compared to the consensus estimate of $334.32 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, equities research analysts expect that Healthcare Realty Trust will post 1.56 earnings per share for the current year.

Healthcare Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Monday, May 13th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 8.10%. The ex-dividend date of this dividend is Friday, May 10th. Healthcare Realty Trust’s payout ratio is -167.57%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HR. Stifel Nicolaus lowered shares of Healthcare Realty Trust from a buy rating to a hold rating and decreased their price objective for the company from $19.00 to $15.00 in a research report on Tuesday, February 20th. Wedbush increased their price objective on shares of Healthcare Realty Trust from $15.00 to $16.00 and gave the company a neutral rating in a research report on Wednesday. JPMorgan Chase & Co. decreased their price objective on shares of Healthcare Realty Trust from $19.00 to $17.00 and set an overweight rating for the company in a research report on Wednesday, March 6th. Wells Fargo & Company decreased their price objective on shares of Healthcare Realty Trust from $18.00 to $15.00 and set an equal weight rating for the company in a research report on Wednesday, April 10th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Healthcare Realty Trust in a research report on Tuesday, January 30th. They issued a hold rating and a $18.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $17.30.

About Healthcare Realty Trust

Healthcare Realty (NYSE: HR) is a real estate investment trust (REIT) that owns and operates medical outpatient buildings primarily located around market-leading hospital campuses. The Company selectively grows its portfolio through property acquisition and development. As the first and largest REIT to specialize in medical outpatient buildings, Healthcare Realty's portfolio includes more than 700 properties totaling over 40 million square feet concentrated in 15 growth markets.